ISM Manufacturing Index Highlights Ongoing Economic Contraction

Wednesday, 2 October 2024, 10:12

ISM reports manufacturing contracts for the sixth consecutive month, with a PMI of 47.2% in September, identical to August. This continues to signal a downturn in economic activity in the manufacturing sector, raising concerns about future growth.
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ISM Manufacturing Index Highlights Ongoing Economic Contraction

Ongoing Contraction in Manufacturing

The ISM Manufacturing Index revealed a PMI of 47.2% for September.

Implications of the PMI Data

This number matches August's figure, indicating persistent contraction in the manufacturing domain. An index value below 50% signifies a reduction in economic activity, warranting attention from policymakers and investors alike.

  • Manufacturing sector faces ongoing challenges
  • Confidence dampened due to declining orders
  • Potential impact on broader economy

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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